Avoid pitfalls to make your gifts meaningful, useful, and tax-efficient.
- What you give is just as important as how you give.
- Not all gifts of property are the same; they must be looked at asset by asset, and the charitable recipient can matter too.
- Communication is key with both the charity and your family.
Many donors not only want to do “good,” but want to ensure that they also do “well” with their charitable gifts, making them as meaningful as possible to their values, as useful as possible to the charities they benefit, and as tax-efficient as possible.
Sometimes the best way to learn is through the mistakes of others. Hopefully, by being aware of some common pitfalls people make in charitable giving, you can make your gifts meaningful, useful, and tax-efficient.
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